MF Global Bankruptcy Puts Downward Pressure on Rates

The bankruptcy of MF Global Holdings Ltd. and its ensuing suspension as a primary dealer shook the larger market Monday morning, putting downward pressure on rate-indicative bond yields.

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The long-term rate-indicative 10-year yield had dropped below 2.2% at press time early Monday afternoon. The 10-year yield had been as high as 2.4% late last week.

Michael Stockman, a former mortgage trader, has been MF Global's chief risk officer. Former New Jersey Gov. Jon Corzine is the company's CEO.

Bonnie Sinnock

Capital Markets Editor

Bonnie Sinnock is National Mortgage News' Capital Markets Editor at Arizent and has worked for NMN and affiliated publications since 1995. Her... Read full bio

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